Been debating starting your own business in this new year? Now could be the time, if you do your research and bolster your alliances, say metro Phoenix business owners.
Stephanie Lee, owner of Scottsdale-based Bebe EcoPosh Boutique , says smart entrepreneurs realize they can’t do it alone.
Just like you need teammates and coaches to win a game, you’ll need great partners and counselors to successfully start your new company, she says.
«You need to align yourself with organizations that will support and help you build your business plan,» Lee says. «And then you need to be open to their ideas because their job is to help you form it into something more prosperous.»
Brent Sebold, program manager for the Edson Student Entrepreneur Initiative at SkySong in Scottsdale, agrees.
«The Number 1 most important key is to seek out people who are strong in your weaknesses,» he says.
By embracing help from partners and counselors, you’ll be able to view your idea from different perspectives and build a business plan off one another’s strengths.
Securing loans for startup businesses isn’t always easy. So applying for grants is the most risk-free way to garner cash for your new business.
If you’re enrolled in any college or university, do some research because many higher-education schools offer a variety of grants to students via their entrepreneurship programs.
If you’ve already graduated, there are many resources locally and nationally that offer grants to startups.
Tip: Because job creation is vital to the state and national economy, grant donors are looking for applicants whose business plans will stimulate job growth.
Investors and loans are other options, but Sebold suggests becoming familiar with the law before taking that route.
The Internet has proved to be one of the greatest and least expensive resources for marketing new businesses. With social-media sites filling up cyberspace, there’s no place your business model can’t go — local, national or international.
Lee suggests using social media to get the word out to everyone and using local public-relations agencies to tackle your more complicated marketing strategies.
«A lot of people can come up with an idea,» Sebold says. «But you need people with strong will and open minds for rapid adjustments and quick and efficient execution of a business model.»
Even though some pieces of the puzzle will take longer to pull together than others, a strong and determined business model is always more likely to survive than one built on weak motivation.
«You have to be determined to reach your vision,» Lee says.
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